Press release
Carbide Tools market is projected to reach $19,125 million by 2030 : Cognitive Market Research
Carbide Tools market is projected to reach $19,125 million by 2030 : Cognitive Market Research
- Carbide is a Chemical Compound composed of Carbon along with a less electronegative element than Carbon itself. These tools are also known as cemented carbide or carbide-tipped cutting tools. Due to their hardness & resistance to high temperatures, Carbide tools are used in cutting, drilling, grinding, abrasives and polishing tools. Carbide cutting tools are one of the widely used tools. The carbide tools renders better physical properties to the cutting tools, which makes the tools more capable of taking on the tasks they are assigned.
Summary:
- As per our study, the global carbide tools market size was valued at $11,800.0 million in 2022, and is projected to reach $19,125 million by 2030, registering a CAGR of 5.01% from 2023 to 2030. Further, the Europe region is anticipated to be the largest market for the carbide tools and Asia Pacific is expected to grow with the highest growth rate in the forecast period.
"To know more The Carbide Tools Market statistics click here: https://www.cognitivemarketresearch.com/carbide-tools-market-report
Market Dynamics:
- Increasing demand for carbide tools for vital manufacturing industries, such as electronics, construction, automotive, aerospace, and others, an increase in infrastructure-related activities worldwide fuelling the growth of the carbide tools market. These products are widely used for drilling, milling, turning tools, and others applications in different industries. Further, rapid industrialization in developed countries such as, United States, France, and Germany also contributing to the growth of the carbide tools market.
Technological innovations in carbide tools can create the opportunities for the carbide tools market in the forecast period. Nowadays, the major market players are focusing on introducing advanced technology-based products in the market to intensify the market competition. However, volatility in the raw material prices can fluctuate the end products, which can hamper the growth of the market.
Market Segmentation:
Type:
• Drilling tools
• Milling tools
• Turning tools
• Others
Coating:
• Coated
• Noncoated
End Users:
• Automotive
• Construction
• Metal Fabrication
• Electronics & electricals
• Aerospace
• Others
The Major Players in Carbide Tools Market are:
Mitsubishi Materials Corporation, Ingersoll Cutting Tool Company, CERATIZIT SA, Vhf Camfacture AG, Rock River Tool, SGS Tool Company, Best Carbide Cutting Tools, Vora Industries, Carbide Tools Manufacturing, Tunco Manufacturing, Global Excel Tools Manufacturing Sdn, Advent Tool & Manufacturing, PROMAX Tools, Garr Tool Company.
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Regional Analysis:
- Europe is estimated to dominate the carbide tools market share due to the presence of major market players of the cutting tools, and robust infrastructure industry. For instance, Sandvik AB, Guhring Ltd, Plansee Group, and others have the highest geographical presence in Europe region. Further, the Asia Pacific region is expected to grow with highest growth rate in the forecast period, due to the growth of the automotive & construction industry, which fuels the growth of the carbide tools market in theis region. In addition, rising industrialization in developing markets such as, India, China, Indonesia, and others, boosting the demand for carbide tools.
News
- Sandvik completed the acquisition of Chuzhou Yongpu Carbide Tools Co., Ltd (August 2021)
Sandvik has completed the acquisition of 67% of Chuzhou Yongpu Carbide Tools Co., Ltd, a China based solid round tools company, with a call option to buy the remaining part in three years' time.
The company had revenues of approximately SEK 400 million for the twelve-month period Q2 2020 to Q1 2021, an EBIT margin slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on earnings per share will initially be neutral.
- GWS Tool Group Announced the Acquisition of Carbide Tools Mfg. Inc. (December 2021)
GWS Tool Group has announced that it has acquired Carbide Tools Mfg. Inc. This acquisition adds capability and capacity in custom round tools for GWS and further expands the GWS manufacturing footprint in the upper-Midwest region of the United States.
Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Carbide Tools Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Segmentation
1.5.1 Regional Fragmentation
1.5.1 Market Players
• 1.6 Report Duration
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Global Carbide Tools Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
• 5.1 Global Carbide Tools Market Revenue and Share by Manufacturers (2018-2022)
• 5.2 Global Mergers and Acquisition Analysis
• 5.2 Global New Launches Analysis
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Carbide Tools Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Carbide Tools Market by Coating Segmentation Analysis (2018-2030)
Chapter 10 Global Carbide Tools Market by End-User Segmentation Analysis (2018-2030)
Chapter 11 Global Carbide Tools Market Regional Analysis
Chapter 12 North America Carbide Tools Market Outlook (2018 - 2030)
Chapter 13 Europe Carbide Tools Market Outlook (2018 - 2030)
Chapter 14 Asia Pacific Carbide Tools Market Outlook (2018 - 2030)
Chapter 15 Latin America Carbide Tools Market Outlook (2018 - 2030)
Chapter 16 Middle East and Africa Carbide Tools Market Outlook (2018 - 2030)
Chapter 17 Research Findings
To know more Carbide Tools Market TOC click here: https://www.cognitivemarketresearch.com/carbide-tools-market-report#table_of_contents
Related Report:
• Carbide Ceramic Coating Market - https://www.cognitivemarketresearch.com/carbide-ceramic-coating-market-report
• Carbide Saw Blades Market - https://www.cognitivemarketresearch.com/carbide-saw-blades-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Illinois, 60602
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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